Retirement plan

OHLY LAW OFFICE 401(K) PLAN

Name: OHLY LAW OFFICE, LTD. - OHLY LAW OFFICE 401(K) PLAN (2024) Form 5500
Creator: OHLY LAW OFFICE, LTD.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OHLY LAW OFFICE 401(K) PLAN, OHLY LAW OFFICE, LTD.

OHLY LAW OFFICE, LTD.EIN 36-4787948Plan #001PY 2024

1850 NORTH BROADWAY - ROCHESTER, MN 55906507-289-4529ohlylaw.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4.8M

+14.1% from 2023

Total participants

+17.6% from 2023

Average account balance

$252,499

No prior year

Annual return

11.76%

-0.25 pp from 2023

Benchmarks

See 143,415 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,415 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$4.80M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$252K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

118.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$99K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.76%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$1910

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$36K

$2268 / participant

Other / not subdivided$36K100.0%

% of EOY assets

0.757%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$252,499

$160,070+57.7%

$147,117+71.6%

$145,897+73.1%

Participation rate

93.8%

84.0%+9.7pp

82.2%+11.6pp

80.3%+13.4pp

Annual return

11.76%

98.69%-86.9pp

420.54%-408.8pp

552.29%-540.5pp

Employer contribution / active EE

$2,074

$5,285-60.8%

$4,932-57.9%

$4,663-55.5%

Participant deferral / active EE

$4,098

$8,419-51.3%

$8,065-49.2%

$6,689-38.7%

Admin fee / account holder

$1,910

$15,035-87.3%

$12,993-85.3%

$13,390-85.7%

OHLY LAW OFFICE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OHLY LAW OFFICE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion